Distinction

Business Planning & Growth BACK TO PRODUCTS & SERVICES

Business Philosophy:

It is important to us that Distinction Business Development & Marketing appeals to a broad range of clients, many of whom we recognize are small to medium sized enterprises. Our aim is to always provide a first class service - A service that our client companies can ‘tap into’ for advice, guidance and support, in order that we can assist them in working towards sustainable growth and continued success.
More and more of our clients are becoming ‘smarter’ when it comes to looking and budgeting for their business resources. By outsourcing their needs, they are gaining the experience and skills that they need for their business, without having to make any permanent commitment, or having to increase their staff overheads.
Distinction also recognizes that ‘Start-Up Businesses’ need guidance and support – They need to know what support is available for them, and most importantly where to find the help; the networks; the expertise! We understand that every business has it’s own goals and objectives as to where it wants to be positioned – Whether they are happy to remain small and local, or whether they are ambitious to grow nationally, internationally or globally. The business environment is an ever changing environment, and all companies have to adapt to these changes as they grow, and as the (business) world evolves.
Distinction assists small to medium sized businesses by offering support in key business areas, and by building strategic alliances with key ‘business partners’ (such as the Regional Development Trusts; Chambers of Commerce; Banks; Accountants; Small Business Groups; Government Agencies (i.e. NZTE); Professional Institutes & Business Owners). Therefore, Distinction is in a prime position to keep its knowledge base up to date, topical and relevant for the needs of our clients, and for our own growth.

Distinction in Business Planning:

Business Planning is probably one of the most important tasks you’ll ever undertake for your business. It helps you to clarify thinking, and take control of your business. It sets out how you as Owners/Directors/Managers intend to realise your business objectives - without such planning, a business is likely to drift. Business planning serves several purposes, and formed as a working document it:

Enables management to think through the business in a logical and structured way and to set out the stages in the achievement of the business objectives.
Enables management to plot progress against plans (through the management accounts)
Ensures that both the resources needed to carry out the strategy and the time when they are required are identified.
Is a means for making all employees aware of the business's direction (assuming the key features of the business plan are communicated to employees)
Is an important document for discussion with prospective investors and lenders of finance (e.g. banks and venture capitalists).

Preparation of a Business Plan:
The key to business planning is to compile a brief yet comprehensive business plan; one which will set the course of your business over its lifespan, and one which ensures that key targets are met.

‘Distinction’ can work with you to look at all aspects of preparing your business plan, including:

Why you should have a Business Plan
What the plan should include
Executive Summary
Your Business Opportunity: Its products and services
Your Markets & Competitors
Marketing & Sales Planning
Human Resource Planning
Operational Planning
Financial Forecasts – Generic only
Presenting Your Business Plan
The Importance of Ongoing Business Planning – Keeping it up to date!

Strategic Analysis:
Strategies exist at various levels in any company - ranging from the overall business (or group of businesses) through to individuals working in it.

Corporate Strategy - is concerned with the overall purpose and scope of the business to meet stakeholder expectations. This is a crucial level since it is heavily influenced by investors in the business and acts to guide strategic decision-making throughout the business. Corporate strategy is often stated explicitly in a "mission statement".
Business Unit Strategy - is concerned more with how a business competes successfully in a particular market. It concerns strategic decisions about choice of products, meeting needs of customers, gaining advantage over competitors, exploiting or creating new opportunities etc.
Operational Strategy - is concerned with how each part of the business is organised to deliver the corporate and business-unit level strategic direction. Operational strategy therefore focuses on issues of resources, processes, people etc.

Strategic Management (in its broadest sense), is about taking "strategic decisions" - decisions that answer all of the above questions. In practice, a thorough strategic management process has three main components, shown in the figure below:

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Strategic Analysis:
This is all about analysing the strength of the businesses' position, and understanding the important external factors that may influence that position. The process of Strategic Analysis can be assisted by a number of tools, including:

PEST Analysis - a technique for understanding the "environment" in which a business operates

Scenario Planning - a technique that builds various plausible views of possible futures for a business

Five Forces Analysis - a technique for identifying the forces which affect the level of competition in an industry

Market Segmentation - a technique which seeks to identify similarities and differences between groups of customers or users

Directional Policy Matrix - a technique which summarises the competitive strength of a businesses operations in specific markets

Competitor Analysis - a wide range of techniques and analysis that seeks to summarise a businesses' overall competitive position

Critical Success Factor Analysis - a technique to identify those areas in which a business must outperform the competition in order to succeed

SWOT Analysis - a useful summary technique for summarising the key issues arising from an assessment of a businesses "internal" position and "external" environmental influences.

Strategic Choice
This process involves understanding the nature of stakeholder expectations (the "ground rules"), identifying strategic options, and then evaluating and selecting strategic options.
Strategy Implementation
This is often the hardest part: When a strategy has been analysed and selected, the task is then to translate it into organisational action.

SWOT Analysis:
The SWOT Analysis is a tried, tested and proven method for assessing your business, its resources and its environment. We will work with you to analyse the business in terms of:
Internal Strengths
Internal Weaknesses
Opportunities in the external environment
Threats within the external environment

Distinction will work with you to achieve a SWOT Analysis that provides information that is helpful in matching your company resources and capabilities to the competitive environment in which it operates. It will essentially help you to discover:
- What the business does well
- How it could improve
- Whether it is making the most of the opportunities around
- And whether there are any changes in the environment which may
require corresponding changes in your business strategy.

PEST Analysis:
A PEST analysis is concerned with the environmental influences that face your business. The acronym PEST stands for the Political, Economic, Social and Technological issues that could affect the strategic development of a business.
Distinction can work with you to identify PEST influences to your business and help summarise the external environment in which your business operates. This would always be followed up by consideration of how your business should respond to these influences.

Conducting Business & Training Reviews:
‘Distinction’ has found that for businesses with little or no ‘formal’ business plans in place, the best way to start identifying their business needs is through the conduction of a ‘Distinction’ “Formal Business Review” (FBR). All aspects of your business will be reviewed in conjunction with all associated individuals, and the outcomes amalgamated into one central working document. This document will form the basis of your ongoing strategy to build and develop the business, and lead to the compilation of a full Business Plan.

Those businesses with existing business plans in place can still also benefit from a ‘Distinction’ Formal Business Review (FBR) — It is often found that an impartial, external resource can bring forward new ideas, and raise awareness to external factors that may affect the business. It also provides the business with the opportunity to pin point specific gaps that there may be in core business areas, such as Marketing, Human Resources, Operational and Financial Planning.

Growing Your Business – Growth Strategies:
Your business will survive, grow and flourish by selling more, to more customers. This may involve selling more of your existing products or services to existing customers, or it can be selling new products or services, and / or acquiring new customers or markets.

The four main approaches to growth of your business:

Products/Services
Existing New

                        Existing         Growth through                Growth through new
                                                Existing customers            products & services
Customers
                        New                Growth through                 Growth through
                                                New customers &              Diversification
                                                Markets

Distinction will work with you and your business to address why growth is important to your business; what has triggered you to think about growth; what options for growth are available to you and work on specific areas to help you decide what you want to so and how to achieve it.

Review of Business Performance:
Distinction knows that many businesses, once established and operating well, are inclined to let things run as they are. However, it is at this stage that it is actually time to plan again! After the initial ‘start-up’ phase, you should review your progress; identifying how you can make the most of the market position you've established and work out where you can take your business next. After that, it's a good idea to revisit your business plan with this new strategy in mind, and making sure that you introduce the developments you've identified.
At Distinction, our review process takes you through the stages you should adopt in order to assess how well your business is performing. This is done by highlighting your strengths, and identifying areas that could be improved.

This includes looking at:
- Why it's vital to review the progress of your business
- Assessing your core activities
- Assessing your business efficiency
- Reviewing your financial position
- Conducting a competitor analysis
- Conducting a customer and market analysis
- Using your review to redefine your businss goals

Business Facilitation:
At Distinction, we recognise that an expert facilitator is someone who is ‘part mediator’ and ‘part diplomat’ – Someone who has the business insight to keep everyone working towards constructive outcomes. Put in simple terms, Distinction can help your business achieve great outcomes, through great meetings!!
We realise that time spent in meetings can ‘cost’ your business: not only in terms of the wages and salaries of those attending the meeting, but that whilst key personnel are there, you are losing the time they could be spending on core business activities that add value to your bottom line. Therefore, it is crucial that you get as much value as you can from all people in the room; keeping them interested, focused and participating throughout its duration.
Distinction can offer facilitations which are interactive and rich in information; always tailored to suit your business and its environment. We will work with you to get the most out of your meetings by clarifying desired outcomes and ensuring that there is involvement, energy and focus from all who should be involved. Contact us now to find out more about how we can help with facilitation within your business.

Interim Project Management:
Distinction recognises that many businesses do not always have the full compliment of skills, resources or expertise available within their business, to fulfil specific individual projects or tasks. Distinction in Interim Project Management offers you the opportunity to draw upon external expertise as and when you need it. Contact us now for more details on how we can assist you and your business with your interim project management requirements.